TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts April 27, 2020

BB orders banks for quick release of import documents

The Bangladesh Bank yesterday asked banks to speedily release import-related documents such that the goods can be released from the port without further delay as the government scrambles to prevent any supply disruption during Ramadan. Banks were also asked to settle the import liabilities swiftly such that essential goods can be supplied to the market smoothly amid the ongoing lockdown. The goods that must get priority include rice, lentil, onion, salt, sugar, ginger, garlic, water, baby food, food items and all types of medical and electronic equipment. The country’s supply chain has been disrupted on a massive scale due to the ongoing shutdown to snuff out the coronavirus pandemic. Many authorised dealer branches that settle foreign exchange transactions have remained shut for the shutdown. This slowed the release of products from the Chattogram port.

Source: https://www.thedailystar.net/business/news/bb-orders-banks-quick-release-import-documents-1897126

Beza plans generous incentives to tempt foreign investors

The Bangladesh Economic Zones Authority (Beza) plans to put in place a generous incentive package to perk up the country’s investment climate and attract more foreign investors to economic zones in the post-coronavirus era when companies will scope out new destinations to reduce costs. As per the Beza proposal, foreign companies that will relocate their production to Bangladesh can be allowed to import used machinery to set up their factories in the country. Industrial units that will be set up in the government economic zones within 2023 can be offered 100 per cent corporate tax exemption for 10 years. Like the export-oriented industrial units, local factories should also be entitled to bonded warehouse facility, which allows exporters to import and store their raw materials without payment of customs duties for a certain period until these are used in manufacturing export products. Like India, the Bangladesh government should also provide 50 per cent of the cost for establishing central effluent treatment plants in the economic zones, Beza said. Agro-processing industries operating outside the economic zones receive 20 per cent cash incentive irrespective of their ownership structure, but in the economic zones, only C-type industrial units that have 100 per cent local ownership enjoy 4 per cent cash incentive. As of February, Beza received investment proposals worth $20.50 billion from 151 local and foreign business entities, and of the amount, about $3 billion has already been invested in different special economic zones. About $5.78 billion will come as foreign direct investment from companies in China, South Korea, Japan, India, Singapore, the UK, Australia, Malaysia and the US. The rest $12.13 billion will be invested by 60 local companies, including TK Group, Karmo Foam Industry, Mango Teleservices, BDCOM Online, Bashundhara Group, Siraj Cycle Industries, Abdul Monem, Star Consortium and Ayesha Clothing Co.

Source: https://www.thedailystar.net/business/news/beza-plans-generous-incentives-tempt-foreign-investors-1897117

Govt to procure 17,002 tonnes of Boro paddy in Jamalpur

The Food Department will procure 17,002 tonnes of Boro paddy from farmers in the district this year. According to the office of District Food Controller, 4,520 tonnes of paddy will be procured from farmers in Jamalpur Sadar upazila while 2.432 tonnes of paddy in Sarishabari 1,202 from Dewanganj upazila, 2,184 tonnes from Islampur, 2,738 tonnes from Melandah upazila 2,225 tonnes from Madarganj and 1,701 tonnes from Bakshiganj upazila to be bought from cultivators.

Source: https://today.thefinancialexpress.com.bd/trade-market/govt-to-procure-17002-tonnes-of-boro-paddy-in-jamalpur-1587914795

Prime Bank makes Internet Banking registration more easier

Prime Bank has made Internet Banking registration more easier for the customers. The customers now a days are increasingly using digital banking amid COVID-19 lockdown situation. The bank has made the onboarding process more easier and simpler to provide delightful online banking experience to the valued customers. The customers can avail real-time fund transfer between Prime Bank and other bank accounts, pay Prime Bank and other bank credit card bills, make DPDC, DESCO, Metlife and mobile recharge payment. They can get real-time balance enquiry, download account statement, get details of FDR & deposit scheme and loan information and many more. Commenting on launch of the service, Prime Bank’s Managing Director and CEO Rahel Ahmed said: “Prime Bank has always been in the forefront of digital banking solutions. We believe digital banking is the future of banking as the customers now want banking services from the comfort of their home on 24/7 basis.” .

Source: https://today.thefinancialexpress.com.bd/stock-corporate/prime-bank-makes-internet-banking-registration-more-easier-1587914206

Foreign funds in stocks keep falling amid bearish market

Net foreign investment in the Dhaka bourse has been on a downward trend for the last one year as the overseas investors continued to pull out their fund amid prolonged bearish market trend. The foreign investors withdrew a total of Tk 12.90 billion in the past 12 consecutive months, according to statistics from the Dhaka Stock Exchange. In line with the declining trend in 2019, net foreign funds was Tk 1.28 billion in negative and Tk 1.75 billion in January and February in 2020 respectively. The foreign investment data of March, 2020 was not available as the stock market remained closed due to coronavirus pandemic. In January 2020, the overseas investors bought shares worth Tk 2.74 billion while they sold stocks worth Tk 4.02 billion, taking the net position of Tk 1.28 billion in the negative, the DSE data showed. The net foreign fund was Tk 1.75 billion in negative in February 2020, as they sold shares worth Tk 3.67 billion against purchasing of Tk 1.92 billion. GP declared only 130 per cent cash dividend for the year 2019. In 2018, the company disbursed 280 per cent cash dividend. The share price of GP also saw 36.40 per cent fall in the past one year to close at Tk 238.80 on March 25, 2020. The GP has notable impact on index movement due to its large market capitalisation which also impacted the overall market trend. The DSE key index lost 1,522 points, wiping out market capitalisation of Tk 1,015 billion in the past 12 months since March 25, last year. Prices of other multinational companies considered as good shares to foreign investors, also suffered losses between 7.25 per cent and 62.23 per cent in last one year until March 25. In 2019, net foreign investment was Tk 4.88 billion in negative as the overseas investors bought shares worth Tk 36.78 billion while they sold stocks worth Tk 41.66 billion. .

Source: https://today.thefinancialexpress.com.bd/stock-corporate/foreign-funds-in-stocks-keep-falling-amid-bearish-market-1587914158

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 260.01↑ 1.11 %
FTSE1005752.23↓ 74.38↓ 1.28 %
Nikkei 22519781.75↑ 519.75↑ 2.70 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 15.21↓ 1.73↓ 10.21 %
Crude Oil (Brent)$ 20.75↓ 0.69↓ 3.22 %
Gold Spot$ 1722.36↓ 7.24↓ 0.42 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.2972
GBP 1BDT 102.940
EUR 1BDT 90.1189
INR 1BDT 1.09742





Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited